About the activities of the Tengizchevroil Joint Venture

Decree of the President of the Republic of Kazakhstan dated April 6, 1993 No. 1168

In order to ensure the activities of the Tengizchevroil joint venture

performance:      

1. To approve agreements and agreements related to the activities of the Tengizchevroil joint venture, approved by Resolution No. 260 of the Cabinet of Ministers of the Republic of Kazakhstan dated April 5, 1993 and providing in particular:     

- opening accounts in foreign banks by the Tengizchevroil joint venture, as well as conducting transactions in freely convertible currency on the territory of the Republic of Kazakhstan and abroad with the knowledge of the relevant republican authorities; see V032657      

- realization by the Tengizchevroil joint venture of the right to freely export hydrocarbons and hydrocarbon products of this enterprise in accordance with the agreements reached;      

2. It is taken into account that the terms of the signed agreements and this Decree can be changed only on the basis of a written agreement between the Republic of Kazakhstan and Chevron Corporation.      

3. To maintain, throughout the entire term of the joint venture, the established mechanism for calculating and paying royalties, income tax, value-added tax and other mandatory payments determined by the relevant agreement.      

4. The Cabinet of Ministers of the Republic of Kazakhstan shall submit to the Supreme Council of the Republic of Kazakhstan proposals on amendments and additions to the legislative acts of the Republic of Kazakhstan, ensuring effective attraction of foreign investments in accordance with the contracts concluded by the Government of the Republic on minerals. 

President    

Republic of Kazakhstan     

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